Photo: Bigstock Day Pitney Scores Win in NY's High Court, Clarifying Revoked Acceleration in Foreclosure Action
The ruling adopts "a clear rule that will be easily understood by the parties and can be consistently applied by the courts," Chief Judge Janet DiFiore wrote.
February 22, 2021 at 04:09 PM
3 minute read
The original version of this story was published on New York Law Journal
The New York Court of Appeals has ruled in a mortgage foreclosure case that, absent a contemporaneous statement to the contrary from a lender, a voluntary discontinuance revokes acceleration where the loan was accelerated by the commencement of the action.
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